MTN denies talks Reliance Communications
04 Jun 2010
African telecon group MTN has denied reports that it was back in talks of the Anil Ambani-led Reliance Communications.
Shortly after brothers Mukesh Ambani and Anil Ambani's business group's, RIL and ADAG, agreed to drop their no-compete clauses from their 2006 settlement, media reports had said that the Indian government would not have any objection to Reliance Communication's deal with MTN (See: R-Com may re-open merger talks with MTN: report).
Earlier this week Reliance Communications had said that it had received proposals from international telecom firms for acquisition of a strategic equity stake. A newspaper report had said Etisalat was eyeing a 25-per cent stake for Rs180 billion, at a sharp premium (See: Etisalat in talks for 25-per cent stake in Reliance Communications?).
Etisalat, with a startup joint venture in India, also said on Wednesday it was considering taking a stake in an Indian operator and was in talks with several firms but declined to be specific.
According to politicians from both India and South Africa, they would not involve themselves in any deal between Reliance Communications and MTN, in the event of any resumption of dialogue between the two companies, an Economic Times report says.
Talking to Tthe Economic Times newspaper on the sidelines of a Confederation of Indian Industries' session, Rob Davies minister of trade and commerce, Republic of South Africa said the government would have no role to play.
